Apr 16 2021 at 09:34
Sarjohn posted:
There are several ways to take control of your emotions and make sure fear and greed do not influence your trading decisions.
1) Have a Trading Plan
2) Lower Trade Sizes
3) Keep a Trading Journal
4) Learn From your past mistakes
I would agree with this as long as the trading plan includes lots of learning and strategy development
Oct 04 2021 at 20:49
opportunitycalls posted:I also agree with these points.Sarjohn posted:
There are several ways to take control of your emotions and make sure fear and greed do not influence your trading decisions.
1) Have a Trading Plan
2) Lower Trade Sizes
3) Keep a Trading Journal
4) Learn From your past mistakes
I would agree with this as long as the trading plan includes lots of learning and strategy development
The issue is focussing on how much profit they can make rather than how much risk they are taking. One you can control and the other not so much.
If you can't spot the liquidity then you are the liquidity.
Even people trading for years didn't able to overcome the greediness. To overcome it one needs skills and proper trading psychology. It's not easy.
Having a trading plan is absolutely essential, I think this is something most traders miss.
They just keep trading different strategy to different strategy getting more and more confused.
They just keep trading different strategy to different strategy getting more and more confused.
Oct 05 2021 at 22:15
I trading plan separates professional traders from beginners. However, being a beginner means you should always try whatever works for you until you get it right.
This is a complete guide of how to create a winning trading plan:
Good luck!
This is a complete guide of how to create a winning trading plan:
Good luck!
Oct 06 2021 at 02:32
Risk management is required from new traders to professional traders. And trading should be done keeping greed away.
There should be an ability to manage not only risks and capital, but also your emotions.
I am sure we all have experienced beginner's luck but some newbies without proper knowledge and skills indulge in overtrading because of greed which leads to losses. So beware of that.
For newbies, the most important thing is not to take too much risk. As for me, you really need to be ready for this.
Oct 15 2021 at 19:10
Actually, it's not a real discovery when you state that novices are greedy. Of course they are greedy because all of them have a prejudice that trading equals easy money. Moreover, it's very difficult to convince them think otherwise. In my opinion, all the learning materials should contain such an information where will be stated that never think that trading is the easiest way to earn money. It's not easy at all and in addition, it won't be easy even if you know a lot. Trading is combination of learning theory and practicing. You can't reach success without one of these 'ingredients' actually.
I think that every trader faces greediness. It doesn't depend on his/her experience, actually every trader passes this stage on his/her way to success. Moreover, I believe that every trade must have pass this stage, otherwise it will be very difficult to pass it when you will be on top. Of course, all traders have the particular percent of greediness when they are in trading activity. In my opinion, it's cool that sometimes you can be greedy and take plenty of risks on yourself. Nevertheless, traders must comply with measure in this thing, because if you won't comply with measure, if you will trade with high leverages, everything can easily lead you to unpleasant consequences.
Greed is the bigger drawback in trading. if you greed much that will go over your brain and you will not be able to take the right decision
Jan 05 2022 at 15:39
Newcomers in forex trading, with excitement to make money take high risks and end with immense losses. As a newbie acquiring knowledge on the forex market, risk management, and money management are vital to avoid failures.
JensonAckles posted:I agree with you, knowledge is the key to profits in forex which every newbie should note.
Newcomers in forex trading, with excitement to make money take high risks and end with immense losses. As a newbie acquiring knowledge on the forex market, risk management, and money management are vital to avoid failures.
Jan 06 2022 at 17:30
JensonAckles posted:New traders should be very careful about their actions.
Newcomers in forex trading, with excitement to make money take high risks and end with immense losses. As a newbie acquiring knowledge on the forex market, risk management, and money management are vital to avoid failures.
When you join forex, number one rule should be to learn sincerely that greed can eat up all your profits which you have earned with hardwork.
Feb 05 2022 at 12:17
I should confess that greediness is one of my weak points. It became especially apparent once I tried my hand at trading. I trade on a demo account. Despite I’m dealing with virtual currency here, I do demonstrate greediness in my trading. With great horror I try to imagine what could be if I traded my real money. I will stay away from trading on a real account unless I cope with myself. Otherwise, I need to confess that trading is not for me.
I have noticed that many novice traders have greed. This is what prevents them from making money.
Because of greed, the trader opens more and more trades. As a rule he does it at the time when there is no need to do it... It's sad...
So it's very important to learn to control your emotions.
To practice emotions you probably need to start trading with real money as early as possible. It may be a minimum deposit. It would be better if it does not exceed $300.
In fact, the more experienced the trader becomes, the easier it is to control his emotions.
With time he loses his greed.
Because of greed, the trader opens more and more trades. As a rule he does it at the time when there is no need to do it... It's sad...
So it's very important to learn to control your emotions.
To practice emotions you probably need to start trading with real money as early as possible. It may be a minimum deposit. It would be better if it does not exceed $300.
In fact, the more experienced the trader becomes, the easier it is to control his emotions.
With time he loses his greed.
Generally, newbies enter the market with one agenda only ; to make quick money. This is one of the reasons their plans seem non-existent and they rely on luck to bring in profit returns leading them toward an empty account in no time. Instead, if they focus on building skill and knowledge, while practising risk management techniques, they can get closer to earning their desired goal. Hence, they should focus on learning and setting reasonable expectations.
